YieldMax Ultra Option Income Strategy

ULTY • ARCA

YieldMax Ultra Option Income Strategy is an exchange-traded fund on ARCA. As of Q3 2025, 101 institutional investors hold shares in this ETF, with total holdings valued at $39.1M. HRT FINANCIAL LLC is the largest holder with a position valued at $5.3M.

Overview

Overview of institutional ownership in ULTY as of Q3 2025

All Institutions

Institutions: 101
Value Held: $39.1M
Shares Held: 7.2M
Avg Position: $387.4K
Median Position: $123.7K

Hedge Funds

Hedge Funds: 3
Value Held: $4.1M
Shares Held: 753.1K
Avg Position: $1.4M
Median Position: $557.6K

Biggest Investors

Institutions with the largest positions in ULTY as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
H HRT FINANCIAL LLC Institution	-	$5.3M 0.02% of portfolio	964.7K shares	Q2 2024 Held for 1y 5m	$21.1B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$4.4M 0.01% of portfolio	798.9K shares	Q1 2024 Held for 1y 8m	$67.9B
Federation des caisses Desjardins du Quebec Fund of Funds	Neil David Blundell CIO	$3.5M 0.01% of portfolio	642.9K shares	Q2 2025 Held for 5 months	$25.4B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$3.5M 0.00% of portfolio	634.2K shares	Q4 2024 Held for 11 months	$75.8B
O OLD MISSION CAPITAL LLC Institution	-	$1.5M 0.06% of portfolio	271.3K shares	Q4 2024 Held for 11 months	$2.4B
S SIMPLEX TRADING, LLC Institution	-	$1.5M 0.04% of portfolio	267.2K shares	Q2 2024 Held for 1y 5m	$4.1B
SPRINGBOK CAPITAL MANAGEMENT, LLC Fund of Funds	Gavin Saitowitz Managing Partner	$1.4M 0.11% of portfolio	249.2K shares	Q3 2025 Held for 2 months	$1.3B
Q Quadrature Capital Ltd Institution	-	$1.2M 0.01% of portfolio	228.4K shares	Q2 2025 Held for 5 months	$8.5B
Traynor Capital Management, Inc. RIA/Wealth	Keith Thomas Traynor CEO	$1.2M 0.07% of portfolio	214.4K shares	Q2 2025 Held for 5 months	$1.7B
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	Wayne Michael Bloom CEO	$1.1M 0.00% of portfolio	209.4K shares	Q3 2025 Held for 2 months	$71.1B

Net Capital Flow

Institutional buying and selling activity for ULTY in Q3 2025

Traded: +$20.9M
Buyers: 95
Sellers: 17
Total Bought: +$27.4M
Total Sold: −$6.5M
Avg Position: $349.4K

Biggest Buyers

Institution	Net Bought	Current Position
H HRT FINANCIAL LLC Institution	+$5.3M +964.7K shares	$5.3M 964.7K shares
Federation des caisses Desjardins du Quebec Fund of Funds	+$2.6M +484.9K shares	$3.5M 642.9K shares
O OLD MISSION CAPITAL LLC Institution	+$1.5M +271.3K shares	$1.5M 271.3K shares
SPRINGBOK CAPITAL MANAGEMENT, LLC Fund of Funds	+$1.4M +249.2K shares	$1.4M 249.2K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$1.2M +219.3K shares	$4.4M 798.9K shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	+$1.1M +209.4K shares	$1.1M 209.4K shares
S SIMPLEX TRADING, LLC Institution	+$1.1M +207.1K shares	$1.5M 267.2K shares
O One Capital Management, LLC RIA/Wealth	+$1.1M +202.5K shares	$1.1M 202.5K shares
Traynor Capital Management, Inc. RIA/Wealth	+$1.0M +191.9K shares	$1.2M 214.4K shares
Texas Capital Bank Wealth Management Services Inc RIA/Wealth	+$922.8K +168.7K shares	$922.8K 168.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$3.8M −687.1K shares	$3.5M 634.2K shares
Q Quadrature Capital Ltd Institution	−$1.0M −188.1K shares	$1.2M 228.4K shares
G GROUP ONE TRADING, L.P. Institution	−$763.0K −139.5K shares	$813.3K 148.7K shares
Innova Wealth Partners RIA/Wealth	−$207.0K −37.8K shares	$179.6K 32.8K shares
Global Retirement Partners, LLC RIA/Wealth	−$126.0K −20.0K shares	Sold Off 0 shares
N NWAM LLC Institution	−$125.1K −20.1K shares	Sold Off 0 shares
LLBH Private Wealth Management, LLC RIA/Wealth	−$121.7K −19.3K shares	Sold Off 0 shares
Pasadena Private Wealth, LLC RIA/Wealth	−$100.8K −16.0K shares	Sold Off 0 shares
B Belvedere Trading LLC Institution	−$72.7K −13.3K shares	$283.5K 51.8K shares
C CLS Investments, LLC Institution	−$65.8K −10.4K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited ULTY in Q3 2025

New Positions: 64
New Value: $12.3M
Exited Positions: 11
Exited Value: $624.6K

New Positions

Institution	Position Value
SPRINGBOK CAPITAL MANAGEMENT, LLC Fund of Funds	$1.4M 249.2K shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	$1.1M 209.4K shares
O One Capital Management, LLC RIA/Wealth	$1.1M 202.5K shares
Texas Capital Bank Wealth Management Services Inc RIA/Wealth	$922.8K 168.7K shares
S SG Americas Securities, LLC Institution	$656.4K 120.0K shares
P Prosperity Wealth Management, Inc. RIA/Wealth	$571.7K 104.5K shares
P PDS Planning, Inc RIA/Wealth	$413.4K 75.6K shares
Cetera Investment Advisers RIA/Wealth	$407.8K 74.6K shares
Acorn Wealth Advisors, LLC RIA/Wealth	$404.9K 74.0K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	$315.1K 57.6K shares

Exited Positions

Institution	Previous Position
Global Retirement Partners, LLC RIA/Wealth	$126.0K 20.0K shares
N NWAM LLC Institution	$125.1K 20.1K shares
LLBH Private Wealth Management, LLC RIA/Wealth	$121.7K 19.3K shares
Pasadena Private Wealth, LLC RIA/Wealth	$100.8K 16.0K shares
C CLS Investments, LLC Institution	$65.8K 10.4K shares
BANK OF AMERICA CORP /DE/ Institution	$63.0K 10.0K shares
Kiker Wealth Management, LLC RIA/Wealth	$20.6K 3.3K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$1.3K 200.0 shares
ORG Wealth Partners, LLC RIA/Wealth	$246.0 40.0 shares
F Front Row Advisors LLC RIA/Wealth	$63.0 10.0 shares

Options Activity

Institutions with the largest Call and Put options positions in ULTY as of Q3 2025

Call Positions: 3
Call Value: $5.0M
Put Positions: 6
Put Value: $12.4M

Call Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$2.9M 5.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.7M 3.2K contracts
W WOLVERINE TRADING, LLC Institution	$384.5K 703.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.6M 8.3K contracts
J JANE STREET GROUP, LLC Institution	$3.6M 6.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.1M 5.6K contracts
W WOLVERINE TRADING, LLC Institution	$707.3K 1.3K contracts
B Belvedere Trading LLC Institution	$449.1K 821.0 contracts
U U.S. Capital Wealth Advisors, LLC RIA/Wealth	$5.2K 163.0 contracts

Most Committed Institutions

Institutions with ULTY as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
WINEBRENNER CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Earl George Winebrenner Managing Partner	0.40% $557.6K	101.9K shares	Q2 2025 Held for 5 months	$137.9M
C Capital CS Group, LLC RIA/Wealth	Jessica Ann Mcconnell Managing Partner	0.33% $202.9K	37.1K shares	Q2 2025 Held for 5 months	$60.8M
P Prosperity Wealth Management, Inc. RIA/Wealth	Gregory John Bentley Owner	0.20% $571.7K	104.5K shares	Q3 2025 Held for 2 months	$287.4M
Acorn Wealth Advisors, LLC RIA/Wealth	Todd Paul Tarantino CEO	0.13% $404.9K	74.0K shares	Q3 2025 Held for 2 months	$318.8M
SPRINGBOK CAPITAL MANAGEMENT, LLC Fund of Funds	Gavin Saitowitz Managing Partner	0.11% $1.4M	249.2K shares	Q3 2025 Held for 2 months	$1.3B
Investment Partners Asset Management, Inc. RIA/Wealth	Gregg Thomas Abella CEO	0.10% $153.2K	28.0K shares	Q2 2025 Held for 5 months	$150.3M
Innova Wealth Partners RIA/Wealth	Charles Alden Roe Managing Partner	0.10% $179.6K	32.8K shares	Q2 2025 Held for 5 months	$183.4M
Keyes, Stange & Wooten Wealth Management, LLC RIA/Wealth	Ii Thomas Reymann CCO	0.10% $202.3K	37.0K shares	Q3 2025 Held for 2 months	$206.6M
Texas Capital Bank Wealth Management Services Inc RIA/Wealth	John Matthew Scurlock Director	0.08% $922.8K	168.7K shares	Q3 2025 Held for 2 months	$1.2B
M Motiv8 Investments LLC RIA/Wealth	Michael Gerald Terrio President	0.07% $128.3K	23.5K shares	Q4 2024 Held for 11 months	$187.8M

Hedge Fund Spotlight

Discover hedge funds investing in ULTY

WINEBRENNER CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerEarl George Winebrenner

Portfolio Value: $137.9M
Positions: 133
Last Reported: Q3 2025

Sector Allocation

Position in YieldMax Ultra Option Income Strategy

Market Value: $557.6K
Shares Held: 101.9K
Portfolio Weight: 0.40%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 DFCF Dimensional Core Fixed Income DFCF	ETF ETF	$6.4M	4.66%
2 Nvidia NVDA	Semiconductors Technology	$6.3M	4.58%
3 Pacer Pacific Asset Floating Rate High Income FLRT	ETF ETF	$5.6M	4.08%

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